Can someone who has been made redundant from his job of 20 years make a living as a full time trader on the betting exchanges? Follow me on my journey as I attempt to find out.

Saturday, 28 March 2009

Frustration leads to Indiscipline

Despite my earlier posts, my search for discipline seems to, to all intent and purposes, to remain ranked low in my phyche. Why?, well because today I succumbed to it yet again.

As I am not planning to start trading until 20th April, I've enjoyed watching the racing and having a flutter, and like any one who has a bet, my luck allocation seems, at times, to be a little out of kilter with what apparently seems to be countless seconds. I even had my first ever blank Cheltenham Festival, as for a bit of interest this year, I backed everyone of Chocolate Thornton's and Russell Johnson's rides and they didn't have a winner between them in the four days!!

Anyway, today was William Hill Lincoln day and this is one of those races where I have never backed the winner, but undeterred I had a bet as well as a few other bets on the other TV races. It then started happening again, my horses were getting placed but not winning, and I was a few quid down and doing a bit of cursing so come the Lincoln, I backed Zaahid and laid Expresso Star. You've guessed it - Expresso Star won and Zaahid came second.Not a happy bunny!

Indiscipline you see! I've said to myself countless times not to lay horses as they invariably win. I had a stint on Betfair around three years ago where I used to lay horses in the televised races, and I never made any money, in fact I ended up down as even in the trickiest of handicaps, I always used to find that no mater how many prices I offered up, I always seem to lay the winner. There might be 16 runners in the race and I'd take bets on 5 or 6 of them, but you could almost guarantee that one of the 6 would win. So why did I lay Expresso Star today?

I laid it because I was frustrated at things not going right, so I opted for indiscipline, and so laid a horse despite me promising myself that I wouldn't lay to chase, and now I'm angry, not only at the loss I suffered, but my lack of discipline - again!

Now - Where is that place again Kwai Chang Caine?..................Do you have directions?.............Is it on the new street view on Google?..........

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About Me

I first ventured in to full time trading in July last year but due to some horrendous mistakes; my bank was obliterated in just over two weeks. I left a wounded man, but now 9 months later, with the scars fading, I am daring to venture back for one more fight in the world of exchange trading that I affectionately refer to as ‘'The Lions Den'’